Farmers & Merchants Bancorp closes $35M subordinated note offering

FARMERS & MERCHANTS BANCORP INC

Issued $35M aggregate principal of 3.25% fixed-to-floating rate subordinated notes due 2031.
Notes pay 3.25% fixed for 5 years, then SOFR+263 bps; callable after 5 years at par.
Proceeds for general corporate purposes, including acquisitions and organic growth.
Notes qualify as Tier 2 regulatory capital; placed with accredited investors.
Boenning & Scattergood acted as sole placement agent.

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